Flexing your income muscle

Article Abstract:

Changes announced in the Nov 1994 Budget are intended to deal with the problem of the lack of flexibility available to people purchasing a pension annuity with the fund from a personal pension plan. From spring 1995, personal pension plan holders will be able to defer the purchase of an annuity until they are 75 but receive an income from the plan and a tax-free lump sum. This will be particularly beneficial if the annuitant dies during the deferment period, as an annuity can then be purchased by the surviving spouse or any dependant, or the fund can be taken in cash.

Laws, regulations and rules, Variable annuities

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Too high an income may erode your capital: poor rates of interest in recent years have leftmany investors seeking an alternative to the deposit account

Article Abstract:

Achieving high income was possible by depositing money at a bank or buildingsociety a few years ago, before the dramatic falls in interest rates. It is difficult to achieve thehighest possible income and capital growth and ideally investments should be made for both arising income and growth. Income producing investments include deposit accounts which offercapital security, national savings, guaranteed income bonds and gilts. Others include corporatebonds which may be unfamiliar to private investors, and lifetime annuities offering a high andfixed income.

Practice, Savings

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